Report : Microbial Identification Panel Market to 2027 - Global Analysis and Forecasts by Product and Service (Instruments, Consumables, Software and Services); Method (Phenotypic, Genotypic and MALDI-TOF); End User (Hospitals and Diagnostic Laboratories, Pharmaceutical Companies, Other End Users), and Geography
Instrument segment is expected to drive the market for microbial identification panel over the forecast period by product & service segment.
According to The Insight Partners market research study titled 'Microbial Identification Panel Market to 2027 – Global Analysis and Forecasts by Product & Service, Method, End User and Geography. The global microbial identification panel market is expected to reach US$ 3,873.1 Mn in 2027 from US$ 2,288.7 Mn in 2018. The market is estimated to grow with a CAGR of 6.2% from 2019-2027. The report highlights the trends prevalent in the global microbial identification panel market and the factors driving the market along with those that act as challenges to its growth.
The microbial identification market is segmented on the basis of product & service, method and end user. Based on the product & service it is classified as instruments, consumables, software and services. On the basis of method the market is classified as phenotypic, genotypic and MALDI-TOF. Based on the end user the market is segmented as hospitals and diagnostic laboratories, pharmaceutical companies, other end users. In 2018, the instruments accounted for the largest market share in the global microbial identification panel market. The growing expenditure by hospitals, pharmaceutical and food industry on microbial identification activities, are driving the total number of instrument purchased.
The market for microbial identification panel is expected to grow significantly due to factors such as rising use of micro-organism for industrial applications, growing incidences of infectious diseases, and increasing government support for microbial identification. However, the market is estimated to experience slower growth due to the high cost for microbial identification products.
The major players operating in the microbial identification panel market include, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Danaher Corporation, bioMérieux, Merck KGaA, Charles River Laboratories, Inc., Bruker Corporation, Shimadzu Corporation, Avantor (VWR International LLC), and Eurofins Scientific among the others. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
Global Microbial Identification Panel Market, By Regions, 2018 (%)
The report segments the global microbial identification panel market as follows:
Global Microbial Identification Panel Market – By Product & Service
Global Microbial Identification Panel Market – By Method
Global Microbial Identification Panel Market – By End User
Global Microbial Identification Panel Market – By Geography